CLEVELAND (CBS) -- The Cleveland Cavaliers announced Thursday they've signed No. 1 overall pick Andrew Wiggins and second round pick Joe Harris to contracts. Wiggins' deal guarantees him the next two seasons under the rookie salary scale with Years 3 and 4 as team options. Harris' deal is believed to be three years for a total of about $2.7 million, according to ShamSports.com.

The significance of the news of Wiggins signing his contract now is he can't be traded for 30 days, which matters if he's going to be included in any potential deals for Kevin Love this summer. From the Cavs' press release: "The Cleveland Cavaliers have signed their 2014 NBA Draft picks, Andrew Wiggins and Joe Harris, to contracts, Cavaliers General Manager David Griffin announced today from Cleveland Clinic Courts. Per league policy, terms of the contracts were not released."

Wiggins was the first overall pick in the June draft. An early entry candidate from Kansas University, Wiggins, 19, was named Big 12 Freshman of the Year and First-Team All-League in his only year at Kansas. In 35 contests with the Jayhawks last year, the 6-8, 194-pound guard averaged 17.1 points, 5.9 rebounds, 1.2 steals and 1.0 block in 32.8 minutes per game. In four games during the 2014 NBA Summer League, Wiggins averaged a team-high 15.5 points, 3.5 rebounds, 1.3 steals and 1.5 blocks in 29.9 minutes per game.

If you're Flip Saunders of the Minnesota Timberwolves, the power play would be to tell teams, including the Cavaliers, that you're not discussing trades involving Love for the next 30 days. If you're David Griffin of the Cavaliers, you're calling Flip every day for the next 30 days and trying to complete a deal that doesn't include Wiggins. The two teams could certainly still negotiate a deal involving Wiggins over these 30 days and agree to it in principle, but it seems like we're in about another waiting period for at least the next month, if not more.

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